The transition to a cashless society seems to be gaining momentum ... people like to keep paper money at hand – take the US in times of Great Depression, Iceland in 2008, or Cyprus in 2013.

Most importantly, we can’t monitor how much we spend if Hong Kong becomes a cashless society. Because we can’t physically see the money in our wallets or purses, it’s easy to spend too much.

South Africa is moving towards embracing a more cashless society. However ... such as reduced transaction times and lower costs. Digital transactions, unlike cash, can be processed almost ...